US seeks India deal on e-comm, crops, data storage

A US-INDIA TRADE agreement under discussion will cover 19 categories, including greater market access for farm goods, e-commerce, data storage and critical minerals, people familiar with the matter said, the first step towards a deal that may help India evade higher tariffs on its goods.

- SHRUTI SRIVASTAVA

The terms of reference for a bilateral deal, which was finalized by both sides this week, includes trade in goods as well as services, the people said, asking not to be identified. Other so-called "chapters" covered in the trade deal are corruption and rules of origin, they said.

The initial agreement—announced after US Vice President JD Vance's meeting with Prime Minister Narendra Modi in New Delhi on April 21—lays out a framework for negotiations for a trade deal that India hopes will give it a reprieve from higher US import taxes. President Donald Trump slapped India with a 26% reciprocal tariff, currently on hold until July.